GMC acquired the European Bezels & Clusters Business, now GLN Advanced Solutions, to enhance its position in the automotive plastic components market.
Information on the Target
The acquisition involved the European Bezels & Clusters Business, now rebranded as GLN Advanced Solutions. This entity encompasses two manufacturing facilities located in Portugal, specifically in Leiria and Vendas Novas, along with a technological development center also based in Leiria. With a workforce exceeding 600 employees, the company boasts an impressive annual revenue of €50 million and offers a diverse range of products tailored to a distinguished clientele.
Industry Overview in Portugal
The automotive industry in Portugal has seen significant growth, particularly in the production of plastic components. The country has established itself as a key player in the sector, promoting innovation and advanced manufacturing practices. Over the last decade, Portugal has attracted numerous investments from major automotive companies, facilitating a surge in high-quality production capabilities.
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In recent years, the demand for electric vehicles (EVs) and smart automotive technologies has accelerated, creating ample opportunities for Portuguese manufacturers to adapt and
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Disclosed details
Revenue: $54M